KNR Systems케이엔알시스템

KNR Systems is loss-making and its shares have fallen sharply over the past year, with no recent news coverage in the data.

KNR Systems makes test equipment and hydraulic robots for research institutes, public enterprises and manufacturers. Its trailing revenue of about ₩18.0B sits alongside an operating loss of ₩7.6B and a net loss of ₩8.7B over the twelve months to H1 2026. The share price is ₩13,970, down 39.5% over one year, and the company pays no dividend.

What stands out

• Revenue fell 14.1% in 2025 to ₩15.8B, following a 14.5% decline in 2024, and the operating margin was -45.6% in 2025.
• Trailing free cash flow is -₩4.1B, and borrowings of ₩23.8B exceed cash of ₩7.8B, with liabilities at 150.8% of equity.
• Filings in the past few months include amended major sales or supply contract notices (September and July 2026), a half-year report for June 2026 and several insider shareholding reports.
• Foreign ownership rose slightly to 1.5% from 1.2% over 60 days, while retail investors were net sellers over the last 20 trading days.
• Valuation is high relative to earnings-based metrics that are not meaningful here, with a price-to-book of 6.6 against peers ranging from 3.2 to 6.4 where available.

What to watch

• Whether the amended supply contracts lead to revenue recovery in the next reported periods.
• Upcoming quarterly and annual filings, to see if losses narrow and whether borrowings can be serviced from cash flow.
• Insider shareholding reports and short interest of 1.6%, given the sharp share price decline.